Rig and Oilfield Mats market expansion is primarily being driven by rising infrastructure development projects, rising infrastructure demand, and rising adoption of cutting-edge technology. The use of composite mats instead of conventional materials for temporary roads and work platforms is a growing trend that is boosting the market. Additionally, because of their excellent resistance to corrosion, wear and tear, and fatigue, non-metallic building materials are being utilised in oilfield engineering projects. This is increasing the demand in the oil and gas industry for composite, wood, and metal mats.

The market for rig and oilfield mats is necessitated by the rising energy demand, which has resulted in an increase in exploration operations. The use of these mats in the oil and gas industry has also been influenced by other factors such as growing environmental awareness and strict restrictions.
Improved strength and longevity, higher load bearing capability, and quicker installation are some benefits of rig and oilfield mats. Composite mats outperform wood and metal mats in terms of load bearing capacity, flexibility, and stability as well as puncture resistance. They can withstand high temperatures, harsh chemicals, and dampness.

Rig and oilfield mats are engineered solutions created to offer employees, vehicles, and equipment access, support, and protection in harsh situations. Although they can also be produced from other materials like rubber or plastic, rig and oilfield mats are often composed of composite materials like wood or metal. These mats provide a variety of advantages, including lessened erosion, increased safety, and improved traction.

At a CAGR of 7.1%, the market for rig and oilfield mats is anticipated to increase from USD 2.87 billion in 2021 to USD 4.92 billion by 2031. Due to their advantages over conventional materials like steel and aluminium, composite mats and wood & metal mats are in higher demand, which is responsible for this growth.

The high cost connected with rigs & oilfield mats such as composite mats, and wood & metal mats used for temporary highways and working platforms might be a major issue hindering the rise in demand for these items. Further limiting their uptake and commercial expansion is anticipated to be their intricate manufacturing procedure. However, the industry's rapid technical development is anticipated to create new growth opportunities. To obtain a competitive advantage, businesses must invest in R&D initiatives and reorient their priorities toward innovation and the introduction of cutting-edge products.
Sunbelt Rentals, Inc., Universal Mat Company, Ltd., Prairie Dog Steel & Equipment, Inc., Tuckahoe Corporation, Heavy Industries International LLC, Horizon Mat Systems LLC, Groundforce Solutions LP, Subsea Industries N.V., SecureMat LLC, Global Plastic Sheeting Inc., SafeLane Global Ltd., and Custom Mats International are the major companies active in the global rig and oilfield mats market.

Segment Analysis 

The Composite Mats Type to Emerge as the Most Lucrative Segment

Over the course of the forecast period, composite mats are expected to see a significant growth rate in the global market for rig and oilfield mats. Composite mats are created from recycled plastic and lightweight fibreglass composites to provide the highest level of strength. In comparison to other types of mats, they also offer better traction on ice surfaces, which improves insulation for oil workers in cold climates. Composite mats are also made to offer excellent stability and support while requiring little upkeep. They are more affordable than other mat varieties and may be readily recycled and reused without losing any quality.

The Most Popular Application Segment is Temporary Roadways

The market for rig and oilfield mats is anticipated to continue to be led by the application for temporary roads. Access to rigs and oilfields that are dispersed over wide regions and frequently situated in isolated locations is made possible by temporary roadways. In comparison to regular roads or walkways, these mats can offer a considerably safer approach for vehicles, personnel, and heavy equipment. The growing necessity for the secure transit of people and goods in outlying oilfields is anticipated to be the primary factor driving the development in demand for temporary roadway matting.

North American region to render Adequate Financing Avenues

It is anticipated that North America will continue to have a leading position in the global market for rig and oilfield mats throughout the forecast period. This is primarily due to the region's expanding infrastructure development for oil and gas production as well as the presence of certain significant oil and gas businesses. Additionally, it is anticipated that rising production levels and increased exploratory activity investments will fuel market expansion in North America. In addition, Europe is anticipated to expand at a strong rate throughout the projection period as a result of rising demand for oilfield mats from nations like Russia and Norway. Over the course of the projected period, growth is also anticipated to be consistent in other areas like South America, Asia Pacific, and the Middle East and Africa.

COVID-19 Impact and Market Status

Due to delays in raw material supply, manufacturing, and transportation, the COVID-19 epidemic has had a substantial impact on the market for rig and oilfield mats. As oil is needed in upstream oil & gas activities, the pandemic has caused a global decline in oil prices, which has directly affected the market for rig and oilfield mats. However, due to rising production levels and increased investments in exploration operations, some regions, such as North America, are anticipated to experience consistent expansion over the projection period. However, after the pandemic abates and firms resume normal operations, the market is anticipated to revert to its pre-COVID levels. Over the projected period of 2021–2031, the market for rig and oilfield mats is anticipated to grow at a strong CAGR.

Latest Innovations in the Global Rig and Oilfield Mats Market: A Snapshot

•        In order to diversify its product offering, Universal Mat declared the acquisition of Norwalk Mat Co., Inc. in 2019.
•        To suit the needs of the oil and gas industry, Subsea Industries N.V. introduced a new product line of oilfield mats and related accessories.
•        For its goods' performance to be better, Heavy Industries International LLC invests in R&D projects.

Rig and Oilfield Mats Market Scope

Key Segments of the MALDI-TOF Mass Spectrometry 
            •    Composite Mats
            •    Wood & Metal Mats
By Application Overview, 2021-2031 (USD Billion)
            •    Temporary Roadways
            •    Working Platforms

Regional Overview, 2021-2031 (USD Billion)
North America
            •        U.S
            •        Canada
Europe
            •        Germany
            •        France
            •        UK
            •        Rest of Europe
Asia Pacific
            •        China
            •        India
            •        Japan
            •        Rest of Asia Pacific
South America
            •        Mexico
            •        Brazil
            •        Rest of South America
Middle East and Africa